Intra-Day Market Moving News and Views
24 Jul 2014 08:57GMT
EUR/USD - An EU source says 'German government believes EU cud move to sanctions on sectors of Russian economy by end of July; Germany government favours a time limit on how long new Russian sanctions should last.'
24 Jul 2014 07:55GMT
EUR/USD - ... Euro has swung from loss to gain in volatile European trading.
Although euro bears gave the single currency a broad-based bashing following FT headline of tough EU sanctions on Russia, price easily penetrated option barrier at 1.3450 n hit a fresh 8-month trough of 1.3438, however, better-than-expected Germany mfg & serv. PMIs triggered a wave of short-covering, euro quickly climbed above Asian 1.3463 high, then yesterday's top at 1.3474 to 1.3476.
Offers are noted at 1.3470/80 n these are fully absorbed, stops above 1.3491/96 may be hit. Bids are seen at 1.3460-50 n more below, suggesting choppy sideways trading may continue in European morning.
Germany manufacturing n services PMI came in better-than-expected at 52.9 n 56.6 vs forecasts of 52.0 n 54.5 respectively.
24 Jul 2014 08:57GMT
EUR/USD - An EU source says 'German government believes EU cud move to sanctions on sectors of Russian economy by end of July; Germany government favours a time limit on how long new Russian sanctions should last.'
24 Jul 2014 07:55GMT
EUR/USD - ... Euro has swung from loss to gain in volatile European trading.
Although euro bears gave the single currency a broad-based bashing following FT headline of tough EU sanctions on Russia, price easily penetrated option barrier at 1.3450 n hit a fresh 8-month trough of 1.3438, however, better-than-expected Germany mfg & serv. PMIs triggered a wave of short-covering, euro quickly climbed above Asian 1.3463 high, then yesterday's top at 1.3474 to 1.3476.
Offers are noted at 1.3470/80 n these are fully absorbed, stops above 1.3491/96 may be hit. Bids are seen at 1.3460-50 n more below, suggesting choppy sideways trading may continue in European morning.
Germany manufacturing n services PMI came in better-than-expected at 52.9 n 56.6 vs forecasts of 52.0 n 54.5 respectively.
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